14-1190b-innovation-managing-risk-evidence
14-1190b-innovation-managing-risk-evidence
14-1190b-innovation-managing-risk-evidence
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SECTION 2: UNCERTAINTY,<br />
COMMUNICATION AND LANGUAGE<br />
30%<br />
Q<br />
Z<br />
W E<br />
A S<br />
X C<br />
R T<br />
D F<br />
V B<br />
Y U<br />
G H J<br />
N M<br />
I<br />
O P<br />
K L<br />
46<br />
Neonicotinoids were introduced<br />
in the 1990s and now make up<br />
about 30% by value of the global<br />
market in insecticides.<br />
It takes a lot of<br />
effort for people and<br />
organizations to adapt<br />
to and capitalize on<br />
new technologies. These<br />
‘sunk investments’ can<br />
reinforce commitments<br />
to a particular <strong>innovation</strong><br />
pathway – even if it widely<br />
seen as unsatisfactory.<br />
Exhibit A: the QWERTY<br />
keyboard.<br />
UK shale gas<br />
development will require<br />
estimated supply chain<br />
spending of £3.3 billion<br />
per annum and generate<br />
64,500 jobs.<br />
Relative measures of<br />
<strong>risk</strong> can be misleading:<br />
being told that regularly<br />
eating a bacon sandwich<br />
increases your lifetime<br />
<strong>risk</strong> of pancreatic cancer<br />
by 20% may be somewhat<br />
unconvincing if the baseline<br />
is extremely low and the<br />
bacon sandwich is rather<br />
pleasant.<br />
On a nuclear submarine, about 100 times more<br />
effort is applied to nuclear safety than to guard<br />
against other accidents.
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